What is the minimum size fund I can transfer to a QROPS?
In our experience the better schemes require funding of around GBP50,000. However, if you’re unsure of your current fund value get in touch and we can investigate for you.

Will payments from my QROPS pension fund be reported to HMRC?
QROPS providers are required to notify HRMC of any payments from transferred pensions in respect of a relevant member. However this does not apply UNLESS the member is:
1. Resident in the UK when the payment is made, or
2.Although not resident in the UK at that time, has been resident in the UK earlier in the tax year in which the payment is made or in any of the five tax years immediately preceding that tax year.

If I transfer my UK pension into a QROPS will I have to buy an annuity?
No, although you may if you wish. Without the need to purchase an annuity it means you can invest into better returning assets and gain the advantage of passing any remaining funds upon death to your loved ones.

Who may apply to transfer their pension into a QROPS?
UK expatriates and any other foreign nationals that have found themselves working in the UK and feel they may have built up a UK pension fund can contact us, we can find out if you are eligible.

What investment choice and freedom will I have with a QROPS?
The investment choice will normally be very wide indeed. Under certain circumstances you can manage the assets yourself with total freedom, or work with an investment manager / financial adviser. You may also appoint an investment manager to make the decisions for you or with you. It really depends what you are looking to achieve and how involved you would like to be with the investment decisions. We can arrange for an investment adviser to work with you by reviewing your QROPS fund assets and make recommendations to you on a quarterly basis. There is no limit to the size of funds that may be accumulated within a QROPS.

Once I have transferred my UK pension to a QROPS can I access my fund as a 100% lump sum?
The answer to this is simply 'no'. Due to tax restrictions you only have lump sum access to the PCLS stated in that particular jurisdiction. Removing any more than this could be detrimental to your retirement future incurring extremely high charges.

What will happen to my QROPS pension fund upon my death?
With a QROPS, depending on the setup, any funds remaining upon death will be paid to those nominated by you as beneficiaries. Dependent on your personal circumstances, significant tax planning opportunities may be possible.

I have a UK SIPP and I have drawn an income, can I benefit?
A QROPS can be used to receive transfers from any UK registered pension scheme (other than annuities and with some UK occupational/ final salary pensions) even where benefits have been taken. It may still be beneficial to transfer to a QROPS if you are non-UK resident and intend to remain so for the long-term.

How long will a transfer to a QROPS take?
Most transfers can take 2-3 months. The process is initiated by completing a form allowing us to gather information, on your behalf, from your pension provider(s). This is not binding in any way and will only allow us to retrieve details of the pension scheme(s) you have, including the current transfer value and future entitlements.

Not answered your question?
The subject of QROPS can be quite daunting at first glance, nevertheless we are at hand to answer any other questions you may have. We have also put together at step by step guide of QROPS which you can download here. This will walk you through the end-to-end process of arranging your personal pension.